国际清算银行（BIS）：2020全球年度宏观经济报告（英文版）（118页）.pdf

1、Annual Economic June 2020 Report BIS Bank for International Settlements 2020. All rights reserved. Limited extracts may be reproduced or translated provided the source is stated. www.bis.org emailbis.org Follow us mRrNnPvNxP8O8Q7NmOoOoMoOkPqQqPeRoOpO8OrQsMvPmNmOMYnQpR BIS Promoting global monetary ?

2、 Annual Economic June 2020 Report This publication is available on the BIS website (www.bis.org/publ/arpdf/ar2020e.htm). Bank for International Settlements 2020. All rights reserved. Limited extracts may be reproduced or translated provided the source is stated. ISSN 2616-9428 (print) ISSN 2616-9436

3、 (online) ISBN 978-92-9259-392-6 (print) ISBN 978-92-9259-393-3 (online) Contents Annual Economic Report 2020: Editorial . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ix A global sudden stop . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4、 . . . . . . . . ix A real crisis turns financial . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ix The policy response so far . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xii Mone

5、tary policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xii Prudential policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xiii Fiscal policy . . . . . . . . .

6、 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xiii Looking ahead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xiv Central banks and payments in the digital er